Piper Sandler Raises Coterra Energy (NYSE:CTRA) Price Target to $37.00

Coterra Energy (NYSE:CTRA) had its target price lifted by equities research analysts at Piper Sandler from $35.00 to $37.00 in a report released on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 33.77% from the stock’s current price.

CTRA has been the subject of a number of other research reports. Scotiabank raised their price objective on Coterra Energy from $31.00 to $35.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Mizuho reissued a “buy” rating and set a $34.00 target price on shares of Coterra Energy in a research report on Wednesday, April 3rd. Stifel Nicolaus dropped their price objective on shares of Coterra Energy from $33.00 to $31.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Stephens reissued an “overweight” rating and issued a $39.00 target price on shares of Coterra Energy in a research note on Tuesday, January 23rd. Finally, JPMorgan Chase & Co. raised their target price on shares of Coterra Energy from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and a consensus target price of $32.33.

Coterra Energy Stock Up 1.6 %

Shares of CTRA stock traded up $0.44 during midday trading on Friday, reaching $27.66. 3,236,713 shares of the stock were exchanged, compared to its average volume of 6,861,799. Coterra Energy has a 1 year low of $22.91 and a 1 year high of $29.89. The firm has a market cap of $20.80 billion, a PE ratio of 12.95 and a beta of 0.21. The company’s 50 day moving average is $26.59 and its two-hundred day moving average is $26.37. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 0.12.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.06). Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.54 billion. On average, equities research analysts predict that Coterra Energy will post 1.93 EPS for the current year.

Insider Transactions at Coterra Energy

In related news, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total value of $1,488,300.00. Following the completion of the sale, the chief accounting officer now directly owns 176,758 shares in the company, valued at $4,783,071.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the sale, the chief accounting officer now owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael D. Deshazer sold 14,000 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $26.06, for a total value of $364,840.00. Following the completion of the transaction, the vice president now directly owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. purchased a new position in Coterra Energy during the 1st quarter worth $1,267,000. D.A. Davidson & CO. purchased a new position in shares of Coterra Energy in the first quarter worth $305,000. Yousif Capital Management LLC acquired a new stake in shares of Coterra Energy during the first quarter worth $3,011,000. Raymond James Trust N.A. purchased a new stake in shares of Coterra Energy during the first quarter valued at $400,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in shares of Coterra Energy during the first quarter valued at $3,218,000. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Company Profile

Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company's properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.